Fed's Lockhard: Bar to reverse taper decision high

FXStreet (Bali) - Federal Reserve Bank of Atlanta President Lockhart, speaking on his economic outlook from a prepared text, said the bar to reverse taper has been set quite high, now expecting asset purchases to be wound down by year-end.

Headlines via Reuters and Bloomberg also included mentions to bad weather having had “significant, adverse influence on recent data", with Lockhard adding that growth is set to return closer to 3 pct. On jobs, Lockhard said jobless rate may overstate health of labor market, which leads him to think that maintaining ultra-low rates for while longer is the right course of action.

Expect further headlines from Lockhard as he takes audience questions and speaks to reporters afterwards.